Friday, September 22, 2000

Barge order for FirstWave/Newpark
FirstWave/Newpark Shipbuilding announced yesterday that it has been awarded a contract by Rhodia, Inc. of Houston, Texas for the construction of three inland service double-hulled tank barges.

Each barge measures 250 ft x 42 ft x 12 ft, with a cargo capacity of 2200 short tons. The barges were designed by the Metairie, Louisiana naval architecture firm of Shearer & Assoc., Inc.

Well intervention deal
On the Norwegian Continental Shelf alone, there will soon be more than 300 subsea wells in existence. Currently, well-intervention work is performed using semi-submersible drilling rigs. Now, ProSafe ASA and Schlumberger Oilfield Services have entered into a co-operation agreement that will see ProSafe use the semi-submersible rig MSV Regalia, for well intervention on subsea wells. The intention is to be ready for operation during the fall of 2001.

MSV Regalia is a modern, multi-service rig with a DP3 dynamic positioning system. It is fully equipped for deep-water operations on the Norwegian Continental Shelf.

ProSafe and Schlumberger will form a joint integrated operational unit which will offer all types of services related to subsea well maintenance--including cable operations, coiled tubing, cementing, pumping, well control and well testing.

The companies say that due to the unique positions they hold in the markets for multi-service vessels and well intervention, a cooperation between them will contribute to increasing the oil companies' production from existing subsea wells.

ProSafe sees the agreement as a breakthrough in its strategy of developing a fleet of multi-service vessels.

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